Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | August 24th, 2013


The information contained herein has been derived from reported listings in the Vancouver West and East selling areas.
The bracketed numbers represent previous weeks' stats from this same report.
Below is this week's chart of the largest price declines (those over 5%) for Vancouver homes for sale from August 6-August 12 (Morning). In the last business week ending Sunday evening, there were 106 (135) (135) price changes of which 103 (131)(124) (129) were price declines.  The average price decline from among the 103 declines was $42,085 ($34,729)($41,918) ($37.380) or 4% (3%). 
59 (75) (68) (73)  of the 103 properties or 57% (55%) (60.8%) were apartments, the average price decline for which was $25,401 ($13,780) ($17,053) ($23,535) or 4.08% (3%). 
There were 8 duplex price declines this week averaging ($19,763) or (2%). 
23 (40) (43) (31)(30) or 22% (30.5%) (35%) (24%)  of the declines were attributable to houses averaging a price decline of $83,621 ($80,020) ($85,958) ($78,773)  or 4.19% (3%) (4%). 
12 (12) (18)  or 12% (6%) (10%)(13.9%) of the price declines were attributable to townhouses averaging a price decline of $23,082 ($19,638) ($25,008) ($24,533) or (3%) (3%).  
Well this last week saw 302 (298) (280) (312) (384) new listings and 150 (207) (201) (215) (201) sales for a total absorption rate of 50% (69.4%) (72%) (68.9%) (52%) (42.2%).
Apartments registered  84 (115) (118) (114) (114) sales against new listings of 183 (148) (152)(154) (191) for an Absorption ratio of:48% (77.7%) (78%) (75%) (59%) (47.5%)
Townhouses registered  12 (24) (14) (22) (18) sales against new listings of 20 (21) (34) (20) (35) for an Absorption ratio of: 60% (114%)(41%) (110%) (51%)(37.1%)
Houses registered 44 (48) (63)(75) (63) sales against new listings of 85 (116) (83) (122) (142) for an Absorption ratio of: 52% (41.3%)(76%) (61.4%) (44%)(36%).
Duplexes registered  6 (8) (10) (4)(5) sales out of 12 (9) (11) (13) (16) new listings for an absorption ratio of 50% (112.5%) (91%) (30.7%) (31%)
Looks like a good balance all around.
Address LP Prev LP Change % Change Tot BR Dwell Year Blt
# 4107 128 W CORDOVA ST 480,000 580,000 100,000 17.24 1 APTU 2008
# 521 666 LEG IN BOOT SQ 475,000 560,000 85,000 15.18 2 APTU 1978
# 210 5735 HAMPTON PL 590,000 675,000 85,000 12.59 2 APTU 1995
1998 QUILCHENA CR 2,198,000 2,490,000 292,000 11.73 6 HOUSE 1929
# 115 36 E 14TH AV 159,000 179,000 20,000 11.17 1 APTU 1971
# 321 666 LEG IN BOOT SQ 549,000 615,000 66,000 10.73 2 APTU 1978
3570 W 30TH AV 2,980,000 3,288,000 308,000 9.37 5 HOUSE 2011
# 612 1485 W 6TH AV 999,900 1,100,000 100,100 9.10 2 APTU 2000
2463 KITCHENER ST 998,000 1,079,000 81,000 7.51 5 HOUSE 1978
# 2906 131 REGIMENT SQ 360,000 389,000 29,000 7.46 1 APTU 2007
# 1102 1720 BARCLAY ST 259,000 279,000 20,000 7.17 1 APTU 1970
# 2401 5380 OBEN ST 288,000 309,800 21,800 7.04 1 APTU 2006
38 E 19TH AV 1,478,000 1,588,000 110,000 6.93 6 HOUSE 1987
# 803 1661 ONTARIO ST 699,000 748,000 49,000 6.55 2 APTU 2010
5688 ALMA ST 4,388,000 4,688,000 300,000 6.40 10 HOUSE 2013
8391 FRENCH ST 749,800 799,000 49,200 6.16 3 DUPXH 1990
# 303 1205 HOWE ST 439,000 466,000 27,000 5.79 1 APTU 2010
# 302 1205 HOWE ST 439,000 466,000 27,000 5.79 1 OTHER 2010
7687 SELKIRK ST 1,699,000 1,799,000 100,000 5.56 5 HOUSE 1949
# 304 1255 SEYMOUR ST 345,000 365,000 20,000 5.48 1 APTU 2008
# 501 2668 ASH ST 534,800 565,000 30,200 5.35 2 APTU 1989
1193 E 11TH AV 888,000 938,000 50,000 5.33 4 HOUSE 1959
2997 W 39TH AV 1,780,000 1,880,000 100,000 5.32 3 HOUSE 1925
8468 FREMLIN ST 699,000 738,000 39,000 5.28 3 DUPXH 1990
3116 W 24TH AV 1,798,000 1,898,000 100,000 5.27 3 HOUSE 1939
2277 W 35TH AV 3,790,000 3,999,999 209,999 5.25 5 HOUSE 1996
# 3601 833 SEYMOUR ST 798,000 842,000 44,000 5.23 2 APTU 2011
# 38 2375 W BROADWAY ST 509,000 536,000 27,000 5.04 2 TWNHS 1999
A word of caution is necessary.  I don't always publish these numbers at the same time such that a tally 7 days back taken in the morning as opposed to late in the day may indicate a reduced count of something that might otherwise be reported later in the day.  In addition, while there is a bias in favour of "getting a listing up and running", the compliance with the reporting of sales may be a little more lax such that a report 3 weeks later would likely show more accurate numbers.  It follows then that "Sales to Active listing" numbers can be reasonably taken to be understated in these type of real time up to the minute reports as the sales are likely lagging as opposed to the listing numbers.
Happy Hunting! 
If you or any of your friends are thinking of buying or selling a property, please
email me at: ashuchat@shuchatgroup.com or call me at: 778-227-7325 to discuss
a detailed purchasing or marketing plan which could help save thousands of dollars. 
The information contained herein has been derived from reported listings in the Vancouver West and East selling areas.

The bracketed numbers represent previous weeks' stats from this same report.

Below is a chart of the largest price declines (those over 5%) for Vancouver homes for sale from August 10-August 24th (Morning).  Pleas note that this is a 2 week  period whereas the bracketed numbers were 1 week periods.

During this period, there were 197 (106) (135) (135) price changes of which 187 (103) (131)(124) (129) were price declines.  The average price decline from among the $44,281declines was ($42,085) ($34,729)($41,918) ($37.380) or  3% (4%) (3%). 

89 (59) (75) (68) (73)  of the properties 47.5% (57%) (55%) (60.8%) were apartments, the average price decline for which was $25,785 ($25,401) ($13,780) ($17,053) ($23,535) or  2.99%(4.08%) (3%). 

There were 9 duplex price declines this week averaging $26,667 ($19,763) or 2.71% (2%). 

66 (23) (40) (43) (31)(30) or 35.3% (22%) (30.5%) (35%) (24%)  of the declines were attributable to houses averaging a price decline of $78,650 ($83,621) ($80,020) ($85,958) ($78,773)  or 3.88% (4.19%) (3%) (4%). 

23 (12) (12) (18)  or12.2% (12%) (6%) (10%)(13.9%) of the price declines were attributable to townhouses averaging a price decline of $24,117 ($23,082) ($19,638) ($25,008) ($24,533) or 3%(3%) (3%).  

Well this last peeriod saw 574 (302) (298) (280) (312) (384) new listings and 392 (150) (207) (201) (215) (201) sales for a total absorption rate of 68.8% (50%) (69.4%) (72%) (68.9%) (52%) (42.2%).

Apartments registered  204 (84) (115) (118) (114) (114) sales against new listings of 319 (183) (148) (152)(154) (191) for an Absorption ratio of:63.9% (48%) (77.7%) (78%) (75%) (59%) (47.5%)

Townhouses registered  27 (12) (24) (14) (22) (18) sales against new listings of 34 (20) (21) (34) (20) (35) for an Absorption ratio of: 79.4% (60%) (114%)(41%) (110%) (51%)(37.1%)

Houses registered 146 (44) (48) (63)(75) (63) sales against new listings of 203 (85) (116) (83) (122) (142) for an Absorption ratio of:71.9% (52%) (41.3%)(76%) (61.4%) (44%)(36%).

Duplexes registered  14 (6) (8) (10) (4)(5) sales out of 14 (12) (9) (11) (13) (16) new listings for an absorption ratio of 100% (50%)(112.5%) (91%) (30.7%) (31%)

Looks like a good balance all around.

A word of caution is necessary.  I don't always publish these numbers at the same time such that a tallytaken in the morning as opposed to late in the day may indicate a reduced count of something that might otherwise be reported later in the day.  In addition, while there is a bias in favour of "getting a listing up and running", the compliance with the reporting of sales may be a little more lax such that a report 3 weeks later would likely show more accurate numbers.  It follows then that "Sales to Active listing" numbers can be reasonably taken to be understated in these type of real time up to the minute reports as the sales are likely lagging as opposed to the listing numbers.

Happy Hunting!
 
Address LP Prev LP Change % Change Tot BR Dwell Year Built
5785 ONTARIO ST 1,349,800 1,498,000 148,200 9.89 6 HOUSE 2003
2887 E 44TH AV 988,000 1,090,000 102,000 9.36 6 HOUSE 1955
788 W 52ND AV 2,999,900 3,280,000 280,100 8.54 7 HOUSE 2008
1315 W 8TH AV 435,000 475,000 40,000 8.42 1 TWNHS 1982
639 W 32ND AV 3,280,000 3,580,000 300,000 8.38 5 HOUSE 1996
# 1501 667 HOWE ST 1,296,000 1,396,000 100,000 7.16 1 APTU 2013
# 2701 1166 MELVILLE ST 648,000 698,000 50,000 7.16 2 APTU 1997
3730 W 13TH AV 3,600,000 3,860,000 260,000 6.74 4 HOUSE 1991
1880 E 8TH AV 779,000 835,000 56,000 6.71 3 TWNHS 2005
3139 W 37TH AV 3,080,000 3,300,000 220,000 6.67 5 HOUSE 2012
2145 HARRISON DR 1,399,000 1,498,000 99,000 6.61 8 HOUSE 2011
# 211 2665 W BROADWAY BB 710,000 758,000 48,000 6.33 2 APTU 2004
1736 NASSAU DR 1,488,000 1,588,000 100,000 6.30 7 HOUSE 2010
2997 W 39TH AV 1,675,000 1,780,000 105,000 5.90 3 HOUSE 1925
743 W 64TH AV 2,590,000 2,750,000 160,000 5.82 4 HOUSE 2011
# PH2501 1616 BAYSHORE DR 3,288,000 3,488,000 200,000 5.73 2 APTU 2006
48 W 41ST AV 1,698,000 1,798,000 100,000 5.56 7 HOUSE 2013
4688 W 14TH AV 2,268,000 2,398,000 130,000 5.42 4 HOUSE 1999
97 W 61ST AV 2,590,000 2,738,000 148,000 5.41 5 HOUSE 2013
3552 W 3RD AV 1,115,000 1,178,000 63,000 5.35 2 DUPXH 1994
# 217 36 E 14TH AV 179,000 189,000 10,000 5.29 1 APTU 1971
1237 E 14 AV 899,000 949,000 50,000 5.27 5 HOUSE 1910
7421 COLUMBIA ST 899,000 949,000 50,000 5.27 3 TWNHS 2006
3221 CHARLES ST 888,800 938,000 49,200 5.25 5 HOUSE 1963
# 1601 1169 W CORDOVA ST 5,480,000 5,780,000 300,000 5.19 3 APTU 2006
# 324 711 E 6TH AV 274,800 289,800 15,000 5.18 1 APTU 1969
6475 WILTSHIRE ST 5,580,000 5,880,000 300,000 5.10 4 HOUSE 2013
# 505 1128 W HASTINGS ST 150,000 158,000 8,000 5.06 1 APTU 2000
5809 CARTIER ST 3,780,000 3,980,000 200,000 5.03 5 HOUSE 1999
# 115 5725 AGRONOMY RD 569,000 599,000 30,000 5.01 2 APTU 2006
2981 MCGILL ST 759,000 799,000 40,000 5.01 6 HOUSE 1974
# 2A 1403 BEACH AV 1,686,250 1,775,000 88,750 5.00 3 APTU 1992

If you or any of your friends are thinking of buying or selling a property, please
email me at: ashuchat@shuchatgroup.com or call me at: 778-227-7325 to discuss
a detailed purchasing or marketing plan which could help save thousands of dollars.